Riverbridge Partners LLC Sells 437,574 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Riverbridge Partners LLC cut its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,900,151 shares of the company’s stock after selling 437,574 shares during the period. Riverbridge Partners LLC owned approximately 0.94% of CCC Intelligent Solutions worth $69,209,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CCCS. Dimensional Fund Advisors LP boosted its position in shares of CCC Intelligent Solutions by 65.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,632,968 shares of the company’s stock valued at $51,482,000 after acquiring an additional 1,831,135 shares during the last quarter. Amalgamated Bank raised its stake in CCC Intelligent Solutions by 25.8% during the second quarter. Amalgamated Bank now owns 22,423 shares of the company’s stock valued at $249,000 after purchasing an additional 4,596 shares in the last quarter. Blair William & Co. IL bought a new position in CCC Intelligent Solutions during the second quarter valued at $1,112,000. Hsbc Holdings PLC grew its stake in shares of CCC Intelligent Solutions by 95.0% in the 2nd quarter. Hsbc Holdings PLC now owns 20,255 shares of the company’s stock worth $225,000 after buying an additional 9,866 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of CCC Intelligent Solutions by 33.2% in the 2nd quarter. Intech Investment Management LLC now owns 15,795 shares of the company’s stock worth $175,000 after buying an additional 3,937 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the sale, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock valued at $5,390,863 over the last three months. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Trading Up 3.8 %

NYSE CCCS opened at $11.70 on Thursday. The stock has a market cap of $7.68 billion, a PE ratio of 75.13 and a beta of 0.72. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $9.79 and a 12 month high of $12.88. The company’s 50-day moving average price is $11.92 and its 200-day moving average price is $11.22. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions declared that its Board of Directors has initiated a share repurchase program on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CCCS has been the subject of several recent research reports. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Barclays lowered their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.89.

About CCC Intelligent Solutions

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.